ISLAMABAD – Pakistan and Iran have set an ambitious target to boost their bilateral trade to $8 billion annually. This move comes as both countries look to strengthen their economic and political ties. The announcement was made during a high-level meeting between Pakistani and Iranian officials aimed at expanding cooperation in various sectors.
The trade target of $8 billion is part of a broader strategy to enhance economic relations between the two neighboring nations. Pakistan’s Prime Minister, Shehbaz Sharif, and Iranian President, Ebrahim Raisi, have been instrumental in setting the new trade goal. The leaders believe that increasing trade volume will not only benefit both countries economically but also foster closer ties in other areas such as energy, agriculture, and security.
Pakistan and Iran have traditionally had strong diplomatic relations, but their trade volume has not reflected the full potential of their partnership. Both countries are now committed to bridging this gap by improving trade infrastructure and reducing barriers to business. The goal is to facilitate smoother cross-border trade and encourage joint ventures between businesses in both nations.
The announcement of the $8 billion trade target also includes plans to increase cooperation in energy, particularly in the oil and gas sectors. Iran, which has significant energy resources, is seen as a potential partner for Pakistan to address its growing energy needs. Both sides are exploring the possibility of expanding energy imports and infrastructure projects to support energy security in Pakistan.
Additionally, the two countries are working on enhancing their transportation and connectivity networks to facilitate easier movement of goods and people. The trade target of $8 billion is seen as an important milestone in strengthening regional cooperation and ensuring long-term stability.
In conclusion, Pakistan and Iran have set a target to achieve $8 billion in annual trade to deepen their bilateral ties. This ambitious goal reflects the desire of both countries to build a stronger and more resilient partnership, benefiting their economies and regional stability.
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